Mercantilism and Inflation
![Audio Mises Daily](https://cdn.mises.org/styles/responsive_4_3_650w/s3/static-page/img/Mises%20Daily_20140821_0.jpg.webp?itok=HX5j0Mze 650w,https://cdn.mises.org/styles/responsive_4_3_870w/s3/static-page/img/Mises%20Daily_20140821_0.jpg.webp?itok=7si7BCUy 870w,https://cdn.mises.org/styles/responsive_4_3_1090w/s3/static-page/img/Mises%20Daily_20140821_0.jpg.webp?itok=xLspfHof 1090w,https://cdn.mises.org/styles/responsive_4_3_1310w/s3/static-page/img/Mises%20Daily_20140821_0.jpg.webp?itok=yGSOJ_DF 1310w,https://cdn.mises.org/styles/responsive_4_3_1530w/s3/static-page/img/Mises%20Daily_20140821_0.jpg.webp?itok=JPh5-XGS 1530w)
In the early 1700s, France turned on the taps of paper-money inflation. At the same time, England turned instead to a more subtle device for accomplishing the same inflationary objective: the creation of a new institution in history — a central bank, writes Murray N. Rothbard (1926–1995).
This audio Mises Daily is narrated by Jeff Riggenbach.